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THREE SET UPS
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Created: by Jeff Castille Attachments:243

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THREE SET UPS

  #1001 (permalink)
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You might have better luck in this thread:
https://futures.io/elite-group-trading-methods/1261-want-your-ninjatrader-indicator-created-free.html

Mike

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  #1002 (permalink)
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Thanks, Mike - I ddn't post there because I didn't particularly want to ask for something for nothing and this thread is "where it all started", at least as far these 3 setups are concerned ! However, I'm headed that way now... (3rd time lucky ?)

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  #1003 (permalink)
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3 Setups are just like anything... one has to distinguish between high prob and low prob, and have the patience to take only the high prob ones.

"...the degree to which you think you know, assume you know, or in any way need to know what is going to happen next, is equal to the degree to which you will fail as a trader." - Mark Douglas
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  #1004 (permalink)
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what color schemes are of interest? thresholds/values/above what?/below what?/equal what?


for MA color alerts?

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  #1005 (permalink)
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mystiq View Post
what color schemes are of interest? thresholds/values/above what?/below what?/equal what?


for MA color alerts?

Thanks for responding, mystiq, but I am now being being helped privately. Apparently the solution for what I want lies in recoding the indicator rather than trying to configure within the limited ability of the Market Analyzer.

To repeat what I've posted in the distant past of this thread, I don't trade THE THREE SETUPS pure & simple, I use these M15 setups for "context" and then look for entries on a 5 tick range bar chart. However, I don't like trying to monitor lots of small charts, so I want to be alerted to possible "context" by Mkt An.

Btw, the version of Jeff's Reversals indicator I posted a few posts above is my "improved" version (I can't quite remember what I had improved : it was something to do with the alerts).

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  #1006 (permalink)
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jtrade View Post
I am still using Jeff's excellent Reversals V6_3 indicator attached & I have a coding request for which I am happy to pay : I also attach a Market Analyzer window into which I have inserted the indicator in 3 timeframes.

I would like the MA cells to color & alert as per the indicator when the relevant setup plots. I have no idea how to configure the MA Alert & Cell Conditions.

Anyone williing to do this, please ?


...glad you were able to resolve your coding issue...can you provide or direct me to the Reversals V6_3 indicator information thread or page... its capabilities look interesting

..never mind... found it


Last edited by mystiq; June 11th, 2011 at 04:31 AM.
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  #1007 (permalink)
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Jeff Castille View Post
As some of you know I have been working for the last month on three set ups. I thought I'd take a minute and share the results of this effort. The win rate for these trades is over 90% in the last 30 days.

I have been trading CL using a 15 minute chart. These set ups are as follows: INSIDE BAR, OUTSIDE (ENGULFING) BAR AND REVERSAL BAR.

INSIDE BAR: This is the simplest set up of the three. If the current bar closes within the previous bar.....set a buy or sell stop 1 tick above/below the inside bar and put your stop at the opposite end +1 tick. The Reversals v4 indicator paints the inside bar yellow so you can't miss it. The psychology of the trade is that there is indecision in the market and you simply get on board when the market makes up its' mind which way it's going.

OUTSIDE BAR: On this set up you do NOT wait for bar close for your entry......you enter WHEN the previous bar is being engulfed. You still use a buy/sell stop and place your stop at the opposite end of the outside bar +1. The psychology of this trade is a CHANGE in sentiment.......first going one way and then the other.

REVERSAL BAR: This set up is a little tougher........the key is to recognize that this bar MUST occur AFTER an up/down move on higher volume. The wick on the bar (candle) must be approximately 2/3 of the entire bar. The psychology of this trade is that at extreme levels (after a good move) that prices will attract buyers/sellers.

NOTE: I didn't invent these trades........I actually read about them about a year ago and never really persued them until now. I didn't remember where I read about them but......thanks to Silvester 17 my memory has been refreshed !!! These basic set ups were presented by Malcolm Robinson ( a good trader and teacher.) He didn't invent them either ! lol These are well known Japanese Candlestick Patterns that have been around for centuries.

I'm posting yesterdays chart......which was good for 148 ticks on CL.

I've got Roonius working on an improved version of the Reversal v4 but I'll post the current version with the template that I am using.

If you have some experience trading these set ups I'd be interested in hearing from you.

Thanks, Jeff

..

great indicator,,,,question:

does it generate a signal during the bar candle formation OR after bar candle closes ? (particularly for the reversal bar setup)

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  #1008 (permalink)
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OB and IB

Hey All,
I don't think this was discussed in this thread. It's a rare occurrence but what if you get 2 patterns in a row OB followed by IB? Are the probability higher or the same? Should stops be adjusted to the OB low or high? Should you only trade the IB in the direction breakout of the previous OB? It comes down to contexts but we'll stick with the thread. Below are examples of OB and IB in different TF's.

Attached is a 60 min chart example, OB_IB - babypowder's library
Attached is a 15 min chart example, OB and IB - babypowder's library
Attached is a 5 min chart example, OB and IB - babypowder's library

This is just something to look at and dissect.

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  #1009 (permalink)
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mystiq View Post
..

great indicator,,,,question:

does it generate a signal during the bar candle formation OR after bar candle closes ? (particularly for the reversal bar setup)

The outside bar color is paint WHEN it goes outside the previous bar........the inside bar can only paint once the bar is complete.......a reversal bar is an assigned percentage of the complete bar and paints once the bar is complete.

All three of these conditions can be anticipated.......so you can be ready for them!

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  #1010 (permalink)
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babypowder View Post
Hey All,
I don't think this was discussed in this thread. It's a rare occurrence but what if you get 2 patterns in a row OB followed by IB? Are the probability higher or the same? Should stops be adjusted to the OB low or high? Should you only trade the IB in the direction breakout of the previous OB? It comes down to contexts but we'll stick with the thread. Below are examples of OB and IB in different TF's.

Attached is a 60 min chart example, OB_IB - babypowder's library
Attached is a 15 min chart example, OB and IB - babypowder's library
Attached is a 5 min chart example, OB and IB - babypowder's library

This is just something to look at and dissect.

Hey BP.

Nice observations.............

Personally........I have noticed that trades seems to develop on the half hour...........I see that you have looked at the 5/15 and the 60 minute........but not the 30 min..........any particuliar reason? ........or just haven't gotten there yet?

Jeff

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